Commercial bank

Comerica Bank's Michigan Index Rebounded in October Despite the UAW Strike

Retrieved on: 
Monday, January 22, 2024
Comerica, Wealth management, Employment, Automotive industry, United Auto Workers, Multimedia, Electricity, Housing, Commercial bank, Retail, CMA, EV, Archive, GDP, Publication, Unemployment

The Michigan labor market is likely to recover to its pre-strike condition in early 2024, since the strike ended before 2023's critical holiday shopping season.

Key Points: 
  • The Michigan labor market is likely to recover to its pre-strike condition in early 2024, since the strike ended before 2023's critical holiday shopping season.
  • The timeliest data on auto production, which are not yet incorporated into the index, largely rebounded to pre-strike levels in late 2023.
  • The Comerica Michigan Economic Activity Index is a monthly composite indicator of state economic activity.
  • To filter out month-to-month volatility in the index components, the index is calculated from the three-month moving averages of its components.

Volante Technologies survey: faster payments top priority for U.S. banks

Retrieved on: 
Thursday, January 18, 2024
The Clearing House, Platform as a service, FedNow, ACH, Clearing house, Federal Reserve, TCH, Ecosystem, Fraud, Volante, Commercial bank, Growth

NEW YORK, Jan. 18, 2024 /PRNewswire/ -- Volante Technologies, the global leader in payments as a service, today issued the results from its third annual mid-tier bank payments modernization report. The report shows high interest and enthusiasm for faster payment networks, with 78% of U.S. financial businesses saying it is a "must-have" for their organization.

Key Points: 
  • NEW YORK, Jan. 18, 2024 /PRNewswire/ -- Volante Technologies , the global leader in payments as a service, today issued the results from its third annual mid-tier bank payments modernization report .
  • Several banks already use the Volante PaaS platform for The Clearing House RTP® (TCH RTP) or FedNow® Instant Payments Service or are about to certify on these networks.
  • Erika Bauman, Director, Commercial Banking & Payments Practice, Datos Insights, said, "The interest in real-time payments and the impressive adoption rate of real-time payment usage across the networks underline a transformative shift in the payments ecosystem.
  • It offers invaluable insights into the evolving payments landscape among U.S. mid-tier banks and credit unions with assets between $1B to $50B.

Piero Cipollone: One step ahead: protecting the cyber resilience of financial infrastructures

Retrieved on: 
Friday, January 19, 2024
Social media, European Systemic Risk Board, Frankfurt, Reproduction, Awareness, Gaps, National Cyber Security Centre, Communication, Environment, Risk management, Disclosure, ECRB, Artificial intelligence, European Parliament, Crime, European, Financial Times, AI, Review, Commercial bank, Methodology, National, Research, Board of directors, Livne, Industrial, Financial Stability Board, Industry, Finance, OJ, Council, ICBC, Euro, Eurosystem, European Central Bank, NBER, Treasury, Intelligence, Ecosystem, Blog, Quantum, ICT, NCSC, Anomaly, News, ECB, Harvard Business Review, Arms industry

Bank market power, both in the loan and deposit market, has important implications for credit provision and for financial stability.

Key Points: 
  • Bank market power, both in the loan and deposit market, has important implications for credit provision and for financial stability.
  • This article discusses these issues through the lens of a simple theoretical framework.

U.K. Businesses Strive for Growth Amid Possible Recession, Third Annual J.P. Morgan Survey Finds

Retrieved on: 
Wednesday, January 17, 2024
Retail, Manufacturing, Technology, Finance, Small Business, Advertising, Banking, Communications, Professional Services, Other Entertainment, Asset Management, Other Retail, Artificial Intelligence, Other Manufacturing, Software, Entertainment, Eye, Artificial intelligence, Policy, Multimedia, CFOS, AI, Optimism, Pressure, Commercial bank, Growth, Tutoring

“It’s been another tricky year for the local business community as interest rate hikes and an inflationary environment has left U.K. businesses feeling the pressure,” said Catherine Pierre, Head of Commercial Banking U.K., J.P. Morgan.

Key Points: 
  • “It’s been another tricky year for the local business community as interest rate hikes and an inflationary environment has left U.K. businesses feeling the pressure,” said Catherine Pierre, Head of Commercial Banking U.K., J.P. Morgan.
  • Even with ongoing economic pressures, the U.K. business community is focused on growth.
  • J. P. Morgan’s U.K. Business Leaders Outlook survey was conducted online from November 16 – December 13, 2023.
  • Results are within statistical parameters for validity, and the error rate is +/- 5.6% with a 95% confidence level.

German Business Leaders Shoot for Growth While Facing Challenging Economic Landscape, Annual J.P. Morgan Survey Finds

Retrieved on: 
Wednesday, January 17, 2024
Technology, Finance, Fintech, Banking, Telecommunications, Professional Services, Business, Software, Hardware, Artificial Intelligence, Hope, Artificial intelligence, Multimedia, CFOS, AI, Public expenditure, Ambiguity, Optimism, J. P. Morgan, Commercial bank, Financial management, Growth

At the same time, local leaders are acutely aware of the tense macroeconomic situation, with half (50%) expecting a recession in 2024, according to J.P. Morgan’s fourth annual Germany Business Leaders Outlook survey.

Key Points: 
  • At the same time, local leaders are acutely aware of the tense macroeconomic situation, with half (50%) expecting a recession in 2024, according to J.P. Morgan’s fourth annual Germany Business Leaders Outlook survey.
  • While expecting to grow in the year ahead, German business leaders remain cautious given the rising costs to do business.
  • Despite continued economic obstacles, German business leaders are looking for ways to generate growth and stay competitive.
  • In total, 251 business leaders (CEOs, CFOs, heads of finance and owners) from German midsize companies (annual revenues generally ranging from €20 million to €2 billion) across various industries participated in the survey.

French Business Leaders Remain Focused on Growth Amid Cost and Labor Concerns, Third Annual J.P. Morgan Survey Finds

Retrieved on: 
Wednesday, January 17, 2024
Other Manufacturing, Technology, Other Retail, Manufacturing, Other Entertainment, Consumer, Other Travel, Retail, Business, Travel, Small Business, Entertainment, Human Resources, Finance, Advertising, Communications, Banking, Professional Services, Artificial Intelligence, Software, Other Consumer, J. P. Morgan, Bank, Multimedia, Hope, Commercial bank, CFOS, Artificial intelligence, Thought, AI, EUR, Growth, Management

Measured optimism prevails as French business leaders continue to have a favorable outlook on the global (54%) and national (51%) economies.

Key Points: 
  • Measured optimism prevails as French business leaders continue to have a favorable outlook on the global (54%) and national (51%) economies.
  • View the full release here: https://www.businesswire.com/news/home/20240117383547/en/
    Recession expectations among French midsize business leaders (Graphic: Business Wire)
    “The French business community continues to demonstrate a steady and practical mindset when thinking about the future,” said Olivier Simon, Head of Commercial Banking, France and Benelux, J.P. Morgan.
  • Amid plans to add headcount, labor shortages were reported as a top external threat French business leaders are bracing for in the year ahead.
  • One-third (33%) of French business leaders reported labor as a top challenge, driven by respondents’ concerns around shortages, retention and recruiting needs.

Indian Business Leaders Expect Major Profit and Revenue Growth in 2024, Second Annual J.P. Morgan Survey Finds

Retrieved on: 
Wednesday, January 17, 2024
Banking, Other Energy, Professional Services, Energy, Technology, Automotive, Other Manufacturing, Fashion, Retail, Other Automotive, Finance, Other Technology, Manufacturing, J. P. Morgan, Multimedia, Growth, Optimism, Artificial intelligence, Commercial bank, Investment, AI, Video game

According to J.P. Morgan’s second annual India Business Leaders Outlook 93% of business leaders of midsized companies in India expect their profits to rise in the year ahead, up 9% from 2023, with planned revenue increases closely following at 92%.

Key Points: 
  • According to J.P. Morgan’s second annual India Business Leaders Outlook 93% of business leaders of midsized companies in India expect their profits to rise in the year ahead, up 9% from 2023, with planned revenue increases closely following at 92%.
  • In a further testament to the positive climate, a majority of Indian business leaders surveyed expressed optimism in both the national (76%) and global economy (69%) in the year ahead,
    This press release features multimedia.
  • View the full release here: https://www.businesswire.com/news/home/20240116176692/en/
    Recession expectations for Indian midsize business leaders in the year ahead (Graphic: Business Wire)
    “Local business leaders have confidence in the economy despite ongoing global economic and geopolitical challenges, as well as the potential of a global recession,” said Pranav Chawda, Head of Commercial Banking India, J.P. Morgan.
  • In a survey of nearly 300 C-suite executives, 51% reported anticipating a recession in 2024, down 10% from 2023.

Bank of the Pacific Adds New Commercial Team in Lake Oswego, Oregon

Retrieved on: 
Tuesday, January 9, 2024
FDIC, Commercial property, Bank, University Club, Grays Harbor, National Association, Equal housing lender, Industrial, OTCQX, Commercial bank, Friends, EVP, SVP, Growth

True to the mission and values of Bank of the Pacific, the team employs a high-touch, value-add service with their clients.

Key Points: 
  • True to the mission and values of Bank of the Pacific, the team employs a high-touch, value-add service with their clients.
  • Katherine Ledson, SVP and Commercial Banking Team Leader, has 17 years’ banking experience and a proven track record for successfully building and leading a commercial team in the market.
  • “Our new Lake Oswego team provides opportunity for increased growth, portfolio diversification, and presence in the greater Portland market.
  • Bank of the Pacific offers consumer banking products, residential mortgage origination and commercial banking services to small-to-medium sized businesses and professionals in western Washington and Oregon.

Wells Fargo Reports Fourth Quarter 2023 Financial Results

Retrieved on: 
Friday, January 12, 2024
Banking, Professional Services, Finance, Corporation, Investment banking, Multimedia, Housing, Wells Fargo, WFC, News, Investment management, Wealth, Commercial bank, Security (finance)

Wells Fargo & Company (NYSE: WFC) has released its fourth quarter 2023 financial results.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) has released its fourth quarter 2023 financial results.
  • View the full release here: https://www.businesswire.com/news/home/20240111033488/en/
    The company will host a live conference call on Friday, Jan. 12, at 10:00 a.m. Eastern time.
  • Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets.
  • News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories .

New Report Finds Growth of Women Business Owners Outpaces the Market

Retrieved on: 
Tuesday, January 9, 2024
Professional Services, Consumer, Small Business, Entrepreneur, Women, Finance, Banking, Waste management, Woman, Public policy, Employment, Health care, Multimedia, Partnership, Entrepreneurship, COVID-19, Child, Health, Transport, Metropolitan statistical area, Workforce, Small business, WIPP, Commercial bank, Wells Fargo, Physician, Growth, Pharmaceutical industry

View the full release here: https://www.businesswire.com/news/home/20240109113716/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240109113716/en/
    2024 Wells Fargo Impact of Women-Owned Business Report (Photo: Wells Fargo)
    Whether it was during COVID-19 lockdowns in 2020 or supply chain disruptions throughout the pandemic, women business owners are driving economic growth :
    During the onset of the pandemic in 2020, despite business closures, women launched more businesses than they closed, while the number of men-owned businesses declined.
  • From 2019 to 2023, women-owned businesses’ growth rate outpaced the rate of men’s 94.3% for number of firms, 252.8% for employment, and 82.0% for revenue.
  • The report details how their growth plays out across the country, ranking the top and bottom states and Metropolitan Statistical Areas (MSAs) between 2019 and 2023.
  • The states with the highest economic clout for women-owned businesses had strong economies during the pandemic with supportive environments for women-owned businesses: